In this episode, we delve into the complexities of preserving family wealth and values across generations. While traditional estate planning often focuses on financial assets, many families face the challenge of maintaining cohesion and shared purpose. Statistics show that a significant portion of inherited wealth dissipates within 18 months, not due to poor investment choices but often because of unresolved interpersonal dynamics and lack of communication.
As wealth accumulates, so do the challenges: illiquid assets like businesses and real estate become difficult to divide, and the availability of legal resources can complicate rather than simplify the transfer process. The emotional toll on families during this period can be profound, with relationships strained and legacies at risk.
